Blue Dart sales for the second quarter of 1998-99 have increased by 11 per cent compared to sales recorded in the first quarter of the current fiscal. Further, profit before tax has increased to Rs 2.37 crore in the second quarter of 1998-99, against Rs 51 lakh in the first quarter.

The company says in a press release that it continues to maintain the strong growth achieved as a result of the turnaround performance of the first quarter ended June 30. The company has shown continuous quarter over quarter improved operating margins as a result of the combined factors of strong quality service, better product mix, increased yields and cost efficiency measures.

Commenting on the company's performance, Blue Dart Express managing director Clyde Cooper said: "The improved performance can be attributed to a four-prongedstrategy implemented by the company of quality service to customers, yield management, efficient utilisation of assets and resources and cost reduction through restructuring. The company expects to continue this trend of profitable growth."

Blue Dart Aviation, the company's wholly-owned subsidiary has achieved breakeven for the last two quarters and continues to show positive trends, says the press release.

The release says that during the second quarter, Blue Dart allotted 30.66 lakh shares to Newfields Holding Ltd on conversion of its fully convertible debentures. These shares were converted at a premium of Rs 65 per share, as a result of which the paid up equity capital stands enhanced from Rs 8.82 crore to Rs 11.82 crore.

Blue Dart Express has a 36 per cent domestic market share. The company today offers a comprehensive range of services and products for both international and domestic shippers. Its continuous commitment towards understanding the needs and concerns of the customer has enabled it toprovide unmatched standards of service quality with above 99.8 per cent reliability levels in the express industry.